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Money owing?

Below is a list of alerts from the VIR® relating to money owing.

1. Security interest found (money owing)

A person or company has registered a security against the vehicle indicating they have a financial interest in the vehicle.

These parties are shown on the VIR® as 'secured parties'.

Should the money owed to the secured parties not be repaid, then the secured parties can legally repossess and sell the vehicle to recover the money.

Reasons for the security could include

  • The vehicle was purchased using finance or a loan
  • The vehicle may have been used as collateral for other purposes
  • The vehicle has an outstanding repair bill
  • This is an old security interest that has not yet been removed from the registry

It is important to match the details of the security (for example, vehicle make, model, year, plate and VIN) with the vehicle description on the VIR®, and against the vehicle physically.

It is common for the VIN to differ by one or two digits because these long numbers are often mistyped.

Our recommendation

If a vehicle you are interested in purchasing has money owing on it (a registered security), arrange with the seller a way to ensure this is removed prior to making payment.

The finance company listed in the security will only discuss the details of the security with the vehicle owner (the debtor).

Once the owner says that the security has been removed, you should generate a new VIR® to confirm the vehicle has clear title. This is the only way to be certain.

If the seller is reliant on your payment to repay the loan to the finance company you could arrange to pay the finance company directly yourself (do not rely on the seller to do this), and pay the remaining amount to the seller.

2. Someone has issued a repossession order against this vehicle

An interested party has obtained a court order to have the vehicle repossessed.

The interested party may then hold the vehicle or sell the vehicle.

The vehicle is likely to have a security registered against it by a secured party.

The repossession order is likely the result of a loan not being paid on time.

It is advisable to contact the interested party discretely without alerting the vehicle owner.

This will allow the authorities to be contacted to recover the vehicle.

Our recommendation

Under no circumstances should you purchase this vehicle until the exact details of the repossession have been explained by the interested party shown in the alert message.

3. Plate of the security was not on the vehicle searched at the time the security was recorded

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The plate recorded by the secured party was not on the vehicle searched at the time it was recorded.

The most likely cause for this alert is that the plate was incorrectly entered by the secured party. Therefore, the security shown might not apply to this vehicle.

Compare the vehicle description, chassis number and VIN shown in the security to see if it matches the vehicle in question. If these match, then the registered security is most likely valid. In any event, you should contact the secured party for advice.

4. Plate of the security does not match any known plates of the vehicle

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The plate recorded by the security party does not match the present plate (or past plates, if any) assigned to this vehicle.

The most likely cause for this alert is that the plate was incorrectly entered by the secured party; therefore the security shown might not apply to this vehicle.

Compare the vehicle description, chassis number and VIN shown in the security to see if it matches the vehicle in question. If these match, then the registered security is most likely valid. In any event, you should contact the secured party for advice.

5. VIN of security does not match VIN of the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The VIN recorded by the secured party is different from the VIN recorded against the vehicle by the NZTA.

This can happen since the VIN is a long and confusing number that is easily misread and mistyped.

The most likely causes for this alert are:

  • VIN was incorrectly recorded by the NZTA or the secured party
  • vehicle's chassis number was used in error by the NZTA or the Secured Party instead of the VIN. This sometimes happens for vehicles older than 1995 because VINs were not allocated to vehicles before this date.

Therefore, the security shown might not apply to this vehicle

Our recommendations

Check the VIN on the vehicle to get the correct number.

VINs are 17 characters long, whereas chassis numbers vary in length.

The VIN is usually located on a metal plate in the engine compartment and is sometimes etched into the vehicle's windows.

If the VIN on the vehicle does not match the VIN shown in the registered security, contact the secured party for advice.

If the VIN on the vehicle does not match the VIN shown on the report, contact the NZTA and request that they update their records.

6. Chassis number of security does not match the chassis number of the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The chassis number recorded by the secured party is significantly different from the chassis number recorded against the vehicle by the NZTA.

This can happen since the chassis number is a long and confusing number that is easily misread and mistyped.

The most likely causes for this alert are:

  • chassis number was incorrectly recorded by the NZTA or the secured party
  • vehicle's VIN was used in error by the NZTA or the secured party instead of the chassis number

Therefore, the security shown might not apply to this vehicle

Our recommendations

Check the chassis number on the vehicle to get the correct number. The chassis number is usually located on a metal plate in the engine compartment or stamped into the vehicle body. You can call the vehicle manufacturer for the exact location.

If the chassis number on the vehicle does not match the chassis number shown in the registered security, contact the secured party for advice.

If the chassis number on the vehicle does not match the chassis number shown on the report, contact the NZTA and request that they update their records.

7. Chassis number of registered security partially matches chassis number of the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The chassis number shown in the security is only a portion of the chassis number recorded by the NZTA. Often only a portion of the chassis number is used by a secured party.

This is not unusual or serious; contact the secured party for advice.

8. Make of registered security does not match the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The vehicle make recorded by the secured party is significantly different from the vehicle searched for.

This security may not be relevant to this vehicle, contact the secured party for advice.

9. Model of registered security does not match the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

The vehicle model recorded by the secured party is significantly different from the vehicle searched for.

This security may not be relevant to this vehicle, contact the secured party for advice.

10. Year-of-manufacture of registered security does not match the vehicle searched

This vehicle has a security registered against it. Securities are matched to vehicles using plate, chassis or VIN.

If the year of manufacture recorded by the secured party is significantly different from the vehicle searched for the security may not be relevant to the vehicle. Contact the secured party for advice.